EnTrustPermal Partners Offshore LP purchased a new position in Range Resources Corp. (NYSE:RRC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 109,500 shares of the oil and gas exploration company’s stock, valued at approximately $1,868,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. World Asset Management Inc increased its position in shares of Range Resources by 19.7% in the third quarter. World Asset Management Inc now owns 19,372 shares of the oil and gas exploration company’s stock worth $379,000 after purchasing an additional 3,186 shares during the period. Waters Parkerson & CO. LLC increased its position in shares of Range Resources by 5.3% in the third quarter. Waters Parkerson & CO. LLC now owns 64,686 shares of the oil and gas exploration company’s stock worth $1,266,000 after purchasing an additional 3,275 shares during the period. Pitcairn Co. increased its position in shares of Range Resources by 10.8% in the third quarter. Pitcairn Co. now owns 35,480 shares of the oil and gas exploration company’s stock worth $694,000 after purchasing an additional 3,449 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Range Resources by 21.5% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,078 shares of the oil and gas exploration company’s stock worth $393,000 after purchasing an additional 3,557 shares during the period. Finally, Norinchukin Bank The increased its position in shares of Range Resources by 28.7% in the third quarter. Norinchukin Bank The now owns 16,807 shares of the oil and gas exploration company’s stock worth $329,000 after purchasing an additional 3,749 shares during the period. Institutional investors own 96.51% of the company’s stock.
Shares of Range Resources Corp. (NYSE:RRC) opened at $15.74 on Friday. The firm has a market capitalization of $3,910.00, a PE ratio of -787.00, a PEG ratio of 0.67 and a beta of 0.69. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.54 and a current ratio of 0.57. Range Resources Corp. has a twelve month low of $11.93 and a twelve month high of $30.30.
Range Resources (NYSE:RRC) last released its quarterly earnings results on Tuesday, February 27th. The oil and gas exploration company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.07. The company had revenue of $679.00 million for the quarter, compared to analysts’ expectations of $659.71 million. Range Resources had a return on equity of 5.42% and a net margin of 12.76%. The business’s quarterly revenue was up 167.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.23 earnings per share. research analysts anticipate that Range Resources Corp. will post 0.98 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Thursday, March 15th. Range Resources’s dividend payout ratio (DPR) is currently -400.00%.
A number of brokerages recently commented on RRC. B. Riley set a $17.00 price target on Range Resources and gave the stock a “hold” rating in a research report on Friday. UBS Group began coverage on Range Resources in a research report on Wednesday. They issued a “buy” rating and a $18.50 price target on the stock. TheStreet upgraded Range Resources from a “d” rating to a “c-” rating in a research report on Wednesday, February 28th. KLR Group reiterated a “buy” rating and issued a $27.00 target price (up previously from $26.00) on shares of Range Resources in a research report on Thursday, March 1st. Finally, ValuEngine cut Range Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Range Resources presently has an average rating of “Hold” and a consensus target price of $23.70.
In related news, Director Anthony V. Dub sold 2,897 shares of Range Resources stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $16.06, for a total value of $46,525.82. Following the transaction, the director now directly owns 96,000 shares of the company’s stock, valued at $1,541,760. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steffen E. Palko acquired 34,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was bought at an average cost of $14.72 per share, for a total transaction of $500,480.00. Following the completion of the purchase, the director now owns 61,267 shares of the company’s stock, valued at $901,850.24. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 44,574 shares of company stock worth $729,007. Company insiders own 2.40% of the company’s stock.
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Range Resources Company Profile
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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